What kind of company has its members' liability arising only in the event of winding up?

Company limited by guarantee

The correct answer is option 1- Company limited by guarantee.

Companies Limited by Guarantee has its members' liability arising only in the event of winding up.

Companies Limited by Guarantee: In this case, the liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. Thus, the liability of the members will arise only in the event of its winding up.